Provider: Ingenta Connect
Database: Ingenta Connect
Content: application/x-research-info-systems
TY - ABST
AU - Burgess, J.C.
AU - Ulph, D.
TI - Forest Land Conversion Over Time: Implications for the Faustmann Formula
JO - Forest Science
PY - 2001-11-01T00:00:00///
VL - 47
IS - 4
SP - 510
EP - 519
KW - natural resource management
KW - forest
KW - forestry science
KW - environmental management
KW - forestry research
KW - forest resources
KW - land-use switching
KW - natural resources
KW - Forest land-use options
KW - forest management
KW - forestry
N2 - The Faustmann timber production model has been used to examine the allocation of land between alternative forest land use options. This article provides a clarification and extension of this previous work. We use the basic forest land use options model to allow for the changes in forestland use over time. First, we modify Faustmann's original assumptions to allow for a one-off change in prices or an initial allocation constraint, and examine the forest land manager's decision to switch to an alternative land use at some point in the future. Second, we look at the case where prices evolve over time and it is optimal for the forest land manager to switch between land uses on an equilibrium path. This second extension provides a new application of the Faustmann timber production model. We discuss the theoretical insights and the implications for forest conversion. FOR. SCI. 47(4):510–519.
UR - http://www.ingentaconnect.com/content/saf/fs/2001/00000047/00000004/art00008
ER -